Mexico: Constellation Brands to invest $1.3 bln in a new plant in Veracruz
Constellation Brands has announced the construction of a plant in Veracruz. The company said they will invest $1.3 billion in the construction of the plant over the next few years, the Riviera Maya News reported on April 23.
The plant belongs to the company that distributes the Grupo Modelo beer brands. The location of the plant will be in the Antigua Hacienda de Santa Fe and will have a water source independent from that of the city.
“The company has updated its plans to invest in the next capacity increase in Mexico that will provide the long-term flexibility necessary to support the expected future growth of its portfolio of high-end Mexican beers,” the company said in its financial report in January.
Constellation Brands explained that the location for the plant was determined due to its transportation infrastructure, which includes one of the most prominent seaports in the region and access to highly trained labor.
On Friday, April 22, President Andrés Manuel López Obrador confirmed the company’s plans to build the new plant. He said the construction will create 2,000 jobs and once complete, 10,000 indirect jobs.
The initial project was to settle in Mexicali, Baja California, however, a popular consultation promoted by the federal government led to its cancellation after residents said the plant would only aggravate water supply problems in the region.
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